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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  NFI Group Inc    NFI   CA62910L1022


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NFI : San Mateo County advances sustainability with new high-capacity buses from New Flyer

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06/19/2019 | 05:40pm EDT

ST. CLOUD, MN, June 19, 2019 /CNW/ - (TSX: NFI) New Flyer of America Inc. ("New Flyer"), a subsidiary of NFI Group Inc. ("NFI"), one of the world's largest independent global bus manufacturers, today announced that the San Mateo County Transit District ("SamTrans") has issued a new order for 55 clean diesel, 60-foot Xcelsior® heavy-duty transit buses (110 equivalent units or "EUs") from New Flyer. 

New Flyer of America (CNW Group/New Flyer of America Inc.)

The buses, funded by Federal Transit Administration ("FTA") grants, will replace buses from 2002 that have exceeded their useful life and will also help increase service along El Camino Real on SamTrans' ECR Route, where 35% of all system boardings occur.

"New Flyer is proud to support SamTrans with high-capacity buses as it improves and expands transit service throughout San Mateo County, and pursues a new vision for mobility," said Chris Stoddart, President, New Flyer. "These Xcelsior buses will increase capacity along one of SamTrans' busiest routes, and help keep the community moving safely and reliably."

In December 2014, SamTrans approved a five-year strategic plan focused on five goals for 2015 to 2019: increasing bus ridership by 15%, growing passenger fare revenue by 20%, reducing annual debt service by $1.5 million, improving organizational performance and managing workforce change.

The San Mateo County Transit District provides public transit and transportation programs in San Mateo County, California, supporting over 13 million passengers per year with bus, paratransit, and commuter rail service. SamTrans continues to actively invest in sustainability measures that reduce facility energy use, water consumption and greenhouse gas emissions.

New Flyer has been leading innovation in transit for over 85 years. It has over 30 years' experience manufacturing high-capacity articulated buses and has delivered over 7,000 since 1988. New Flyer is currently the only manufacturer with successful completion of the Federal Transit Administration Altoona Testing requirements for 60-foot articulated buses, ensuring the buses exceed safety and quality requirements thereby qualifying for federal funding.

About NFI

With over 8,900 team members operating from more than 50 facilities across ten countries, NFI is a leading independent global bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer® (heavy-duty transit buses), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), MCI® (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. NFI buses and motor coaches incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell).  In total, NFI now supports over 105,000 buses and coaches currently in service around the world. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. News and information are available at www.nfigroup.com, www.newflyer.com, www.mcicoach.com, www.arbocsv.com, www.alexander-dennis.com, and www.nfi.parts.

About New Flyer

New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE™ brands. It also offers infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 41,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 are zero-emission. Further information is available at www.newflyer.com.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of NFI Group that involve risks and uncertainties. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, investors cannot be assured that actual results will be consistent with these forward-looking statements, and the differences may be material. Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and economic conditions of and funding availability for customers to purchase buses and to purchase parts or services, customers may not exercise options to purchase additional buses, the ability of customers to suspend or terminate contracts for convenience and the other risks and uncertainties discussed in the materials filed with the Canadian securities regulatory authorities and available on SEDAR at www.sedar.com. Due to the potential impact of these factors, the NFI Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law.      

SOURCE New Flyer of America Inc.

© Canada Newswire, source Canada Newswire English

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